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609

Tiande Chemical Holdings SEHK:609 Stock Report

Last Price

HK$2.34

Market Cap

HK$2.0b

7D

-3.3%

1Y

118.7%

Updated

04 Oct, 2022

Data

Company Financials +
609 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance5/6
Financial Health6/6
Dividends5/6

609 Stock Overview

Tiande Chemical Holdings Limited, an investment holding company, engages in the research, development, manufacture, sale, and distribution of fine chemical products in the People’s Republic of China, India, the United States, Taiwan, the United Kingdom, and internationally.

Tiande Chemical Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tiande Chemical Holdings
Historical stock prices
Current Share PriceHK$2.34
52 Week HighHK$2.95
52 Week LowHK$0.96
Beta0.57
1 Month Change-11.36%
3 Month Change17.00%
1 Year Change118.69%
3 Year Change358.82%
5 Year Change20.62%
Change since IPO249.25%

Recent News & Updates

Sep 22
These 4 Measures Indicate That Tiande Chemical Holdings (HKG:609) Is Using Debt Safely

These 4 Measures Indicate That Tiande Chemical Holdings (HKG:609) Is Using Debt Safely

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Aug 23
Investors Shouldn't Overlook Tiande Chemical Holdings' (HKG:609) Impressive Returns On Capital

Investors Shouldn't Overlook Tiande Chemical Holdings' (HKG:609) Impressive Returns On Capital

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Shareholder Returns

609HK ChemicalsHK Market
7D-3.3%-3.0%-4.3%
1Y118.7%-45.6%-28.3%

Return vs Industry: 609 exceeded the Hong Kong Chemicals industry which returned -45.6% over the past year.

Return vs Market: 609 exceeded the Hong Kong Market which returned -28.3% over the past year.

Price Volatility

Is 609's price volatile compared to industry and market?
609 volatility
609 Average Weekly Movement9.3%
Chemicals Industry Average Movement6.7%
Market Average Movement6.5%
10% most volatile stocks in HK Market12.7%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 609 is more volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: 609's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of Hong Kong stocks.

About the Company

FoundedEmployeesCEOWebsite
19971,421Xiaohua Chenhttps://www.tdchem.com

Tiande Chemical Holdings Limited, an investment holding company, engages in the research, development, manufacture, sale, and distribution of fine chemical products in the People’s Republic of China, India, the United States, Taiwan, the United Kingdom, and internationally. Its principal products include sodium cyanide, cyanoacetic acid and cyanoacetates, malonates, diethyl ethoxymethylenemalonate, EDTA acids and salts, mono chloroacetic acid and derivatives, ethanol, tert-butanol, cyanoacrylate monomers, and related by-products. The company also engages in the research and development, manufacture, and sale of medical instrument products; and manufacture and sale of adhesive products.

Tiande Chemical Holdings Fundamentals Summary

How do Tiande Chemical Holdings's earnings and revenue compare to its market cap?
609 fundamental statistics
Market CapHK$2.03b
Earnings (TTM)HK$860.39m
Revenue (TTM)HK$3.76b

2.4x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
609 income statement (TTM)
RevenueCN¥3.40b
Cost of RevenueCN¥2.05b
Gross ProfitCN¥1.36b
Other ExpensesCN¥577.27m
EarningsCN¥779.74m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.90
Gross Margin39.86%
Net Profit Margin22.90%
Debt/Equity Ratio4.2%

How did 609 perform over the long term?

See historical performance and comparison

Dividends

9.9%

Current Dividend Yield

29%

Payout Ratio

Does 609 pay a reliable dividends?

See 609 dividend history and benchmarks
When do you need to buy 609 by to receive an upcoming dividend?
Tiande Chemical Holdings dividend dates
Ex Dividend DateOct 06 2022
Dividend Pay DateOct 27 2022
Days until Ex dividend1 day
Days until Dividend pay date22 days

Does 609 pay a reliable dividends?

See 609 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 609 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 609?

Other financial metrics that can be useful for relative valuation.

609 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA1.3x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 609's PE Ratio compare to its peers?

609 PE Ratio vs Peers
The above table shows the PE ratio for 609 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average17x
3318 China Boton Group
14.8xn/aHK$2.9b
1084 Green Future Food Hydrocolloid Marine Science
23.9xn/aHK$2.5b
1986 Tsaker New Energy Tech
4.8xn/aHK$1.2b
6616 Global New Material International Holdings
24.4x32.4%HK$4.7b
609 Tiande Chemical Holdings
2.4xn/aHK$2.0b

Price-To-Earnings vs Peers: 609 is good value based on its Price-To-Earnings Ratio (2.4x) compared to the peer average (17x).


Price to Earnings Ratio vs Industry

How does 609's PE Ratio compare vs other companies in the HK Chemicals Industry?

Price-To-Earnings vs Industry: 609 is good value based on its Price-To-Earnings Ratio (2.4x) compared to the Hong Kong Chemicals industry average (5x)


Price to Earnings Ratio vs Fair Ratio

What is 609's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

609 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 609's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 609 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 609 (HK$2.34) is trading below our estimate of fair value (HK$2.68)

Significantly Below Fair Value: 609 is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Tiande Chemical Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


17.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if 609's forecast earnings growth is above the savings rate (1.6%).

Earnings vs Market: Insufficient data to determine if 609's earnings are forecast to grow faster than the Hong Kong market

High Growth Earnings: Insufficient data to determine if 609's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 609's revenue (17.4% per year) is forecast to grow faster than the Hong Kong market (9.7% per year).

High Growth Revenue: 609's revenue (17.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 609's Return on Equity is forecast to be high in 3 years time (24.6%)


Discover growth companies

Past Performance

How has Tiande Chemical Holdings performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


55.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 609 has a high level of non-cash earnings.

Growing Profit Margin: 609's current net profit margins (22.9%) are higher than last year (8.6%).


Past Earnings Growth Analysis

Earnings Trend: 609's earnings have grown significantly by 55.6% per year over the past 5 years.

Accelerating Growth: 609's earnings growth over the past year (424.3%) exceeds its 5-year average (55.6% per year).

Earnings vs Industry: 609 earnings growth over the past year (424.3%) exceeded the Chemicals industry -1.6%.


Return on Equity

High ROE: 609's Return on Equity (39.3%) is considered high.


Discover strong past performing companies

Financial Health

How is Tiande Chemical Holdings's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 609's short term assets (CN¥1.5B) exceed its short term liabilities (CN¥603.0M).

Long Term Liabilities: 609's short term assets (CN¥1.5B) exceed its long term liabilities (CN¥28.2M).


Debt to Equity History and Analysis

Debt Level: 609 has more cash than its total debt.

Reducing Debt: 609's debt to equity ratio has reduced from 8.5% to 4.2% over the past 5 years.

Debt Coverage: 609's debt is well covered by operating cash flow (508.6%).

Interest Coverage: 609's interest payments on its debt are well covered by EBIT (344.3x coverage).


Balance Sheet


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Dividend

What is Tiande Chemical Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


9.93%

Current Dividend Yield

Dividend Yield vs Market

Tiande Chemical Holdings Dividend Yield vs Market
How does Tiande Chemical Holdings dividend yield compare to the market?
SegmentDividend Yield
Company (Tiande Chemical Holdings)9.9%
Market Bottom 25% (HK)3.1%
Market Top 25% (HK)9.0%
Industry Average (Chemicals)6.6%
Analyst forecast in 3 Years (Tiande Chemical Holdings)n/a

Notable Dividend: 609's dividend (9.93%) is higher than the bottom 25% of dividend payers in the Hong Kong market (3.07%).

High Dividend: 609's dividend (9.93%) is in the top 25% of dividend payers in the Hong Kong market (9%)


Stability and Growth of Payments

Stable Dividend: 609's dividend payments have been volatile in the past 10 years.

Growing Dividend: 609's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (29%), 609's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (74.8%), 609's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

15.8yrs

Average board tenure


CEO

Xiaohua Chen (44 yo)

1.75yrs

Tenure

CN¥870,000

Compensation

Mr. Xiaohua Chen has been General Manager of Tiande Chemical Holdings Limited since August 1, 2018 and has been its Executive Director since January 1, 2021. Mr. Chen was Deputy General Manager of Tiande C...


CEO Compensation Analysis

Xiaohua Chen's Compensation vs Tiande Chemical Holdings Earnings
How has Xiaohua Chen's remuneration changed compared to Tiande Chemical Holdings's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

CN¥780m

Mar 31 2022n/an/a

CN¥580m

Dec 31 2021CN¥870kCN¥500k

CN¥380m

Compensation vs Market: Xiaohua's total compensation ($USD122.29K) is below average for companies of similar size in the Hong Kong market ($USD308.73K).

Compensation vs Earnings: Insufficient data to compare Xiaohua's compensation with company performance.


Board Members

Experienced Board: 609's board of directors are seasoned and experienced ( 15.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 609?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders5,172,0000.6%
Institutions15,991,5911.8%
Private Companies232,560,00026.7%
General Public615,694,40970.8%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.


Top Shareholders

Top 9 shareholders own 29.18% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
26.75%
Cheerhill Group Limited
232,560,000CN¥544.2m-62%no data
1.6%
abrdn plc
13,890,000CN¥32.5m0%no data
0.29%
Xiaohua Chen
2,532,000CN¥5.9m375.94%no data
0.29%
Yang Liu
2,500,000CN¥5.9m0%no data
0.097%
Dimensional Fund Advisors LP
840,591CN¥2.0m63.65%no data
0.075%
Universal-Investment-Gesellschaft Mit BeschrÄNkter Haftung
648,000CN¥1.5m0%no data
0.062%
The Vanguard Group, Inc.
541,000CN¥1.3m0%no data
0.016%
Huifang Shi
140,000CN¥327.6k0%no data
0.0083%
BOCI - Prudential Asset Management Limited
72,000CN¥168.5k0%no data

Company Information

Tiande Chemical Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Tiande Chemical Holdings Limited
  • Ticker: 609
  • Exchange: SEHK
  • Founded: 1997
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Implied Market Cap: HK$2.034b
  • Shares outstanding: 869.42m
  • Website: https://www.tdchem.com

Number of Employees


Location

  • Tiande Chemical Holdings Limited
  • High-Tech Development Zone
  • 3877 Wolong East Street
  • Weifang
  • Shandong Province
  • 261061
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
609SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDOct 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/03 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.